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12 May 2012

Statement of Srikant Kumar Jena

Shri Srikant Kumar Jena, Minister of State (Independent charge), Ministry of Statistics & Programme Implementation announced the release of the monthly Quick Estimates of Index of Industrial Production (IIP) for the month of March 2012 compiled by the Central Statistics Office. The index is a composite indicator that measures the short term changes in the volume of industrial production. Shri Jena said that the industrial growth for the month of March 2012 over the corresponding month of the previous year is (-)3.5%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-)1.3%, (-)4.4% and 2.7% respectively. Shri Jena further added that as per “use-based” classification there has been negative growth in capital goods (-21.3%) and intermediate goods (-2.1%) and positive growth has been achieved in basic goods (1.1%), consumer durables (0.2%) and consumer non-durables (1.0%).